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The Value Of Ethics And Trust In Business...With Artificial Intelligence

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The 128 most ethical companies for 2019 were announced this week from the Ethisphere Institute. The timing is fortuitous with the upcoming AI for Good, which I founded, global artificial intelligence dialogue including accountability, responsibility, transparency, fairness, equity and ethics.

Increasingly contributing positively to society and driving positive change are a growing discourse around the world and hitting all sectors and disruptive technologies such as Artificial Intelligence (AI).

As a practical matter, there are guidelines immediately usable such as the ACM Code of Ethics updated in 2018 and the Seven Principles to Foster Algorithmic Transparency and Accountability.

With more than $20 Trillion USD wealth transfer from baby boomers to millennials, and their focus on the environment and social impact, this trend will accelerate. Business is aware and taking the lead in this movement of advancing the human condition in a responsible and ethical manner. Values-based leadership, diversity, inclusion, investment and long-term commitment are the multi-stakeholder commitments going forward.

“Today employees, consumers and stakeholders value companies that show both a commitment to business integrity and also have the organizational humility to never stop seeking improvement. The World’s Most Ethical Companies honorees understand that this approach has a profound impact on communities and is the foundation for broader success and profitability,” said Ethisphere CEO, Timothy Erblich. “We congratulate all honorees for making our world a better place by blending profit and purpose in a meaningful way.”

The awardees spanned 21 countries and 50 industries. Referred to as the Ethics Premium, stock prices of publicly traded honorees indicate that the World’s Most Ethical Companies outperform the large-cap sector over five years by 14.4 percent and over three years by 10.5 percent.

Notable are first-time country awardees such as DTGO from Thailand who believe in shaping the world to be a better place and are the most innovative horizontally and vertically integrated corporation in their sector. Their work aligns very closely with the United Nations 17 Sustainable Development Goals.

Scoring, as reported in 2018, which is shared with the companies, is generated in five categories:

Demonstrating a strong past tradition, as an example Microsoft President Brad Smith indicated in 2018, “Microsoft is honored to be named once again to the World’s Most Ethical Companies by Ethisphere because it reflects our passion to make a lasting impact on the world around us.”

For 2019, “Our T-Mobile team has created and cultivated an Un-carrier culture that is all about driving change, taking a stand for what’s right and setting a new bar for others to follow,” explained T-Mobile CEO, John Legere. “I’m so proud that their commitment to doing what’s right has earned us a spot on the World’s Most Ethical Companies list for the 11th straight year!”

Also, from 2019, “Responsibility has been a hallmark of IBM’s culture for 107 years – from our labs to our boardroom – and we’re honored to be recognized as one of the World’s Most Ethical Companies,” said IBM Chairman, President and CEO, Ginni Rometty. “We know our clients and the consumers they serve expect more than groundbreaking innovation and expertise. They want to work with a partner they trust, and one that works to make the world better, safer and smarter. We are deeply committed to these values.”